I wanted to post a quick follow up on the note I posted last month about an impending 5-cent resin price increase. According to The Plastics Exchange, that increase has indeed gone through on new contracts. That means resin pricing has risen 9 cents since the end of January, which is no small amount.
The Plastics Exchange now says polyethylene producers have nominated a $.04/lb price increase for October and also noted that “several PE producers are still challenged with production issues and while contract buyers seem to have no issue getting material…there have been slim pickings in the spot arena.”
Right now it’s unclear if that increase will be going through for sure, but I will keep you updated on any noteworthy developments.
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